Gaming machines such as slot machines determine the value of a player's payoff by the orientation of symbols on a display. In a typical slot machine, there are numerous payoff values each with a predetermined probability of payoff based on a variety of possible symbol orientations. The attractiveness of a slot machine to a player is based on many factors, including appearance, entertainment value, and the values and perceived chances of winning payoffs. Attempting to attract players, most slot machines currently in use employ numerous payoff levels spread fairly evenly along a spectrum from the lowest possible payoff (often simply a return of the player's bet) to the highest payoff. Slot machines have proven immensely popular with players, and casino operators typically install dozens to hundreds of the machines in a single casino.
The industry standard for measuring distribution of sizes and probabilities of slot machine payoffs is a mathematical value called the volatility index. Current slot machines all have low volatility indices, which means that there is a relatively steady progression of many payoff values from the lowest to the highest, with each payoff's corresponding probability decreasing as the value of the payoff increases.
State-run lotteries, like slot machines, are seeing great popularity. Lotteries are based on the chances of a player's chosen series of numbers matching a randomly selected series. In a lottery, there may be several smaller payoff levels based on combinations of a few numbers, but the largest payoff is reserved for the very small number of players who match all numbers. Expressed in terms used to describe slot machines, lotteries therefore have a high volatility index, though lotteries' volatility indices will not necessarily be as high as the volatility indices of the present invention because large payoffs have an extremely small chance of occurring. The popularity of a lottery is directly linked to the size of the maximum payoff, so that a high maximum payoff will result in more lottery tickets being sold, even though the chances of winning remain extremely small. Players' appreciation of lotteries stems from the fact that incredible wealth can be achieved with a single play.
Because both slot machines and lotteries are extremely popular, a slot machine employing the general payoff characteristics of a lottery would make use of each game's individual popularity to appeal to both players and casino operators. Further, the odds of winning large payoffs on a slot machine need not be so remote as in a lottery, and greater odds of winning will result in more visible large wins in a casino, increasing player interest in the slot machine. Thus, there is a need to develop a slot machine that retains the easy playability and attractive design of a slot machine, and combines this with the high volatility index seen in lotteries. The present invention is directed to satisfying this need.